Metaplanet Inc. Announces $11.3 Million Bond Issuance for Bitcoin Purchases
Tokyo-based funding agency Metaplanet Inc. has unveiled plans to problem one-year unusual bonds totaling 1.75 billion yen (roughly $11.3 million), aiming to increase its Bitcoin holdings.
The bonds will carry an annual rate of interest of 0.36% and are set to mature on Nov. 17, 2025.
In an announcement on X, Simon Gerovich, the CEO of Metaplanet, indicated that the corporate is gearing up for additional Bitcoin acquisitions.
The agency has been actively buying Bitcoin over the previous few months, a development that has gained momentum since its strategic pivot was introduced in Could.
Final month, Metaplanet efficiently raised roughly 10 billion yen ($66 million) by means of its inventory acquisition rights train, additional solidifying its monetary capability to spend money on cryptocurrencies.
As of Monday, Metaplanet’s inventory closed at 1,994 yen ($12.85), reflecting a 0.81% improve. The corporate’s inventory worth has surged by 1,146% year-to-date, regardless of a broader market downturn, with the Nikkei 225 index falling by 1.09%.
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